Russia plans to propose that OPEC, non-OPEC return to Oct 2016 oil output levels - Bloomberg
|Bloomberg quotes a person familiar with the Russian thinking, as saying that Russia is mulling proposing that the OPEC and non-OPEC producers return oil output to October 2016 levels.
This comes a week before the June 22nd OPEC Vienna meeting.
Key Headlines:
Russia plans to propose that OPEC and its allies be allowed to return production to October 2016 levels.
Rolling back most but not all of their output cuts within three months.
Both crude benchmarks are seen running through fresh offers on the above headlines, with WTI now back below the $ 66 mark while Brent dips to lows at $ 75.60, down -0.35% on the day.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.